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tv   Mad Money  CNBC  December 18, 2009 11:00pm-12:00am EST

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that much money. you've got to book some profit before you let the rest run. but in the last two weeks of this year, we're suspended in that particular discipline. that's right. for the next two weeks, i am telling you you can let it ride. you see, when we're up double digits in the s&p 500, the big institutions that control the prices of stocks indulge in a kind of greed that makes the rest of you all a little bit richer. the s&p 500 has posted over 20% gains like this year seven times in the last 20 years, and only once, one time out of seven, have we seen a decline in september. the big institutions, what are they doing? they're playing gate. they're not only stop-selling their winners but often they place bids underneath or they
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outright buy their stocks in order to boost their performance and defend their positions. that's defense. that's why it's hard to defend. it gets even better. get this. get this. i love this. i did a lot of empirical work. in the last two weeks of the year where the average gain has been 4% including some standouts, 7.7% at 8.5%. once again, when i said when the market is up this big, the last two weeks of the year are monster performers. the market just goes up. and i think it started today with the nasdaq. now, i know this seems counter intuitive, but you've got to go with the flow when you get up average 4% or have eight-plus weeks. and the flow is heading higher for these next two weeks thanks to the big hedge funds and mutual funds for defending their position. all right. how about restraint? should we be in restraints? no, no. we're in restraint research heaven. that's right.
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starting next week, we've got research restraint. here we have unwritten rules on wall street and there's a huge one for analysts at the end of the year. no big downgrades. if you were to downgrade a stock, the hedge funds will shoot you. and with almost no earnings reports left for the year, there is very little reason to expect any downgrades. none of the brokers want to offend their clients with one of these with a negative piece of research that can seriously hurt performance right at the end of the year. they don't want to hurt their clients. so this is as close to a downgrade-free zone as we are ever going to get, and that is, my friends, incredibly bullish. and given that the last major earnings report, general millses, research in moment, nike, darden, and carmax, they were not dissing. we are going to get research restraint. put the restraints on me. i'm an analyst.
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general mills gave the food & beverage roast to you. that was some dynamite quarter. you can buy the ought complex off the unbelievable carmax quarter because it shows robust auto sales and the need to replenish the depleted sale of inventory of cars. you know i prefer the ford preferred. you should too. up big. they say oracle is strong. i prefer my hat's off to larry ellison. he's the ceo of oracle. darden, up beautifully as we predicted. it allows you to dream that the consumer will spend more next year. clarence otis blessed next year in a very uncharacteristically positive conference call. i question him, could it be from
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cramer overeating at olive garden? >> no way. you know why? i couldn't get in. the place was so packed i had to go eat a sandwich at another place. all those free rolls left to others. anyway, in fact, even without these positive earnings reports, analysts often go out of their way to spread good cheer during the holiday season. we saw a fantastic piece from citigroup entitled playbook 2010, the biggest cycle in over ten years which talks how the semi conductor stocks could be very strong, including nvidia, the graphic chips company. even better, morgan stanley came out with perhaps the most thoughtful piece i've seen yet. this is a much repiece -- actually a tome. it is of the highest quality as i have come to expect from its author, mary meeker, by far the best technical analyst in this land. if you read only two things, make it "get more even," get this.
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there's an unwritten rule of no pre announcements to the downside. save them till january. and no new equity offerings at this time of year. they would like to make their quarter too. no new supply. i love it. particularly after the massive citi, bank of america, and wells deals, all of which are just sizzling. do you see those deals? anybody in those deals, holy cow. i told you it would be next. i did not tell you to buy it ahead of the deal.
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everyone knows that. go run the tape. of course, there will be spoilers. i mean you can predict that the press, which like the grinch has a collective heart that's two sizes too small or at least too negative, will try to steal christmas, saying that the holiday season was bad or it snowed too much. anyway, bah humbug. the press is entitled to make endless mistakes. what a great thing. in fact, that's part of the fun of being a writer or editor versus being a money manager. it's easy to talk about how many people will be kicked out of their homes from the burgeoning foreclosure pool. never any mention that foreclosures peaked four months ago. you can expect a half dozen stories from all the major papers about however low modification plan has been a failure.
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the reporters could care less if you make money. i think they'd actually like you to lose money. or maybe negative stories just sell more papers. maybe a bit of bought. bunch of scrooges. no. worse. a bunch of scrooge mcducks. bottom line, research restraint and defensive performance. together they create a plan to enact a brilliant game plan of doing, you got it, absolutely nothing. if history is any judge -- and it often is -- you can have a happy and profitable season simply by letting others make money for you. take a clue from beatles rockband and "let it be." why don't we go to jay in south carolina to start the questions. jay. >> caller: thank you for all you do, jim. a hot item is l.e.d. flash lights. is there a high-powered l.e.d. manufacturer we can get action from in. >> it certainly may not be the one you want but there's one. it would have to be cree. cree is like 17 for 17. i mean it's on believable like the first half.
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did you see what he did to the jags? and i like jack. does that burn your retinas? anyway, yeah. i like -- i like cree. i think that's your play for l.e.d. is cree. and semi conductor if you like an $8 number. let's go to steve in florida. >> caller: booyah to you, jim, from pensacola, florida. >> holy cow. let's go fishing. you, me, and joe scarborough. he's from there too. >> caller: yep. i recently bought ferrigas. when dow you recommend taking a loss to your think ferrell is the type to hold on to for a long run. >> if you want to do tax planning and be able to sell it and take gain, i suggest that. add in that bountiful dividend and realize you're doing just fine. thank you. i, myself, steverino, i'd say don't take it. hold on to it. remember, i'm teaching you restraints. just remember me in a straight jacket, okay? that's easy.
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and don't forget, defense. restrain, defense, that's my game plan for a happy and profitable holiday season. stay with cramer! coming up, it's friday and that means cramer has a brand new speck play. can this cellular stock connect your portfolio with profits? and later with the tsunami sweeping the world can this continue to run? kraler's -- cramer's going one-on-one to find out on "the executive decision." all coming up on "mad money."
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tonight, we're making a judgment. how, of course, "getting back to even," good holiday gift. the judgment is about, frankly, bad merchandise that could work, that could work at the right price. not at a sweater with a hole in it or a moth ball. there are stocks that are so cheap that the company is -- that you're buying, sometimes you have to look the other way. sometimes you have to hold your nose. you have companies that you absolutely loathe and despise and would never in a million years think of buying, even the most pathetic worst of breed danger zone trash can turn into treasure at cheaper prices. that's right. this can be this. it's speculation friday. let's open our eyes.
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let's think of this. under $10 bargain bin and right now i've got one. i cannot believe i am about to recommend this. will you pay attention? i'm about to recommend this. pay attention. thank you. the stock is metro pcs. oh, man. i just said it. i can't take it back because i've just said it. pcs for all you home gamers. this may be the most controversial recommendation of 2009. it's prepaid wireless company that trades at $7 and change and it has, indeed, caught our attention, even though we've been telling you to sell it for the last two years. this mon, an outfit called sanford bernstein initiated coverage with o this on a buy. we sat up and took no e it is. of course immediately thursday
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they launched their own coverage. that's creating a regular analyst tug-of-war, if not a three-way cramation-style death match. they were both very well reasoned. here's the thing. metropcs is down 50% year to date. the year of the s&p has increased 2%. now these two analysts -- i was going to call them bozos, but i've decided, you know, in the spirit of giving, i'm not calling them bozos. now they wait till it hits $7 and now they tell us to sell it now? thanks, wall street. that's some really helpful research. the burst, piece, on the other hand, i think takes the correct position that this stock is already priced for disaster. it's priced for something out of a corporate nightmare, "saw 7." it's so cheap that if disaster
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strikes, the darn thing may not go down. that makes me want to agree with bernstein and tell you to look at the stock which i have hated for so long. our philosophy in cramerica is price matters. down here there's really not that much to be afraid of. in fact, i have to tell you. if you believe that and were inclineded to, down here there may be nothing but opportunity. and not any fright. you know, i wish i had written this piece, because the -- it is so well written. get this. the bernstein piece says like cockroaches and keith richards, low cost wireless will survive. hey, listen. got to give the guy credit for some prose here. look, we know the competition within the prepaid wireless market where pcs operates is
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only getting worse. there's a huge price war. until recently both metropcs and leap wireless, another outfit, were able to occupy the one highly competitive niche. the pay in advance, unlimited wireless segment. metropcs could limit service to densely populated urban areas and cost-effectively attract heavy users. that's a much cheaper tragedy than rolling out the full nationwide coverage with postpaid plans like at&t and verizon do. sprint, the loser of the big wireless carriers introduced its own prepaid boost unlimited plan. but with a coverage map that looks more like what you'd see from verizon or at&t where luke wilson looks like he may need to lose 15, 20 pounds? against this backdrop expectations are pretty low.
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as bernstein points out, it becomes too low. this company by limiting its company to network cities achieves profitable that's comparable to that of the major carriers even at much lower prices. even if the price per month for these prepaid plans falls to 35, metropcs is going to generate decent margins, but nobody thinks pcs is another verizon wireless. it's sparked fears that pricing is on a path toward zero, but, again, referring to the bernstein report, there is a pricing floor. it's created by the other carriers variable per-subscriber cost. based on the cost, the minimum prepaid plans is in the neighborhood of $35 a month. that's the worst case -- that's a disaster scenario and if it happens pcs should still be worth about 9 bucks and that's 22% higher than where it is now. how about positives like the fact that the prepaid market has
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gained serious momentum with year-over-year price increases. think of pcs if you have to as an unemployment pay. the majority of current wireless subscribers is r from the bottom two. the lowest 40% of earners. it's much worse for the bottom. these unlimited prepaid plans save money for people who desperately need the every last cent they can keep, plus metropcs along with leap have been the only prepaid carriers to consistently gain market share. they continue to be prepaid price leaders offering unlimited long distance at 35 bucks and unlimited e-mail access on global texting at $45. tiger woods, possible endorsement candidate. there even have been talks of a merger between leap and pcs, which would benefit both companies, but that's not why we're speculating.
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that's bernstein's case for metropcs. now, i want to add some of my own wisdom of 30 years in the stock game. allow me to roll out the concept of the january effect. they're going to want to offset those profits with tax laws selling and a few names like metropcs. it doesn't have to do with the company. it should bounce back come january as investors start buying again. it's too late to sell pcs. it's not too early to buy. here's the bottom line. as we emphasize at getting back, we're convinced that metro pcs has become too cheap to ignore. the buy call from bernstein, it nailed it. if you have an appetite for risks, go ahead an speculate on metropcs. let's go to david in north carolina. david? >> caller: booyah. my question is on jay ville circuit.
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i know rimm is one of their biggest companies. would you recommend buying jvl. ahead of their earnings report after rimm had increased earnings yesterday? >> let's understand each other. i am not buying it for the earnings. i think you have good reason to buy it but the main reason to do it is business worldwide has picked up. put a gun to your head and we don't want to do that. i think jabil is doing terrific. >> caller: happy holiday. booyah to you. >> thank you for the holiday greetings. what's up? >> caller: hey, listen. with all the new iphone applications, i see them every day, you can download this, download that. i'd love to make 20 cents on every download that comes in. do i need to buy into every individual corporation app? or is there one with general purpose application corporation
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that funnels all these applications to the individual networks? >> listen. you're outthinking the whole darn thing. i want you to listen to a pathetic conference call last night on palm. now that i used the word "pathetic" they're going to call me and ask why i used the word "pathetic." the answer was because it's pathetic. they talked about how important it is to have apps. why did they say that? because apple has got apps up the wazoo. buy apple. apple is king of the apps. think we're doing a show called that. if we use that, it's mine. let's go to daniel in rhode island. >> caller: you bless add portfolio that contained both, ibm and apple. i'm confused by why you did that. both companies had diversified but i thought of them as direct
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competitors. at what point do you determine that companies like this have gone from similar to different? >> it's a desperate ratings gambit. ridiculous. ibm i regarded as a consulting company. you know what? first of all, you're right. i didn't want to throw away apple. i was backed into a corner. i was backed into a corner because i like ibm so much and i like apple so much. i didn't do a good job. where's the chalk line for when i'm shot down and defeated. you're right. i'm wrong. ow viewers are too smart. i want viewer whose have good -- who know less than i do, not more. anyway, if you want to dial in a profits, i want you to consider pcs. i have hated the stock for so long. it scares me to mention pcs. i'm doing it because it's got about too cheap. pay attention and after the break i'll trial to make even more money. coming up, with the mobile internet tsunami sweeping the world, can the semistock
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continue to run? cramer's going one on one with the lead ceo of semiconductor on the executive decision. plus one ceo is coming off cramer's infamous wall of shame. is it an early christmas gift for your portfolio?
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honda circled back to one of our favorite mobile internet tsunami plays on semiconductor, onnn, a tech spec of ours that makes powerful management chips that goes in all kinds of devices. the stock was up 45%. since we first recommended it on may 7. and we found out it's a company that used to be a huk company. they're getting one that's pretty cheap. california my crow diseases at $4.74 a share. we want to know how much this acquisition changes things. if you've owned it ever since i told you to buy it then you know we're worrying about a little greed. we believe onnn semi is worth oeng. cal micromakes hand devices and other products from electronic interference static onnn semi is hoping to grow. they're giving better offerings
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for it. still give the huge premium you have to ask about it. it looks as solid as ever. their earnings came in better than expected. backlog levels increased. its debt levels are i historically very low and they gave better guidants. we want to know if onnn semi can keep it up and the questions about the california microis a good deal. it was made up, i think, by sectors that people in america don't think are doing well. made up by auto, made up by kuhn super and game console. so what are the people in america missing that you put on great numbers to areas of the economy that everyone thinks they're dire?
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i think a couple of things are missing. one, is the expansion of consumers in asia. of course a lot of sales are moving there. frankly america is becoming a smaller portion of the electronic gdp around the world every year as a consumer. and then secondly, the units themselves, i think everybody's noticed how much less expensive things are. so if you want to buy the big screen this year, it costs a lot less than last year. that drives a lot of units and that's what onnn semiconductor makes. >> you're able to maintain your margins even though the stores
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that sell the stuff can't? >> yeah. we've been maintaining margins, in fact, growing margins, each year. it's what we do. we set out to drop our costs faster than the marketplace can drop the prices, and with that formula, we think we're going to be rising once again in q4 on gross mar jns. your margins >> when i was a hedge fund manager, i always was concerned when a company bought another company that had lower gross margins and always liked it when they bought something at higher gross margins because then you could say, listen, this raises our gross margins. yours are much better. what can you do to bring companies up to your level? >> in our case, the kbaep we're buying here fits exactly into our infrastructure.
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we can give them a very substantial cost reduction. and so by getting those cost reductions in there very quickly, we think we can get the gross margins at or above. >> when i looked at that, i saw nokia was there. could this be a big opening with you? >> hopefully it is. we have very little presence there and we're hoping that is the start of something new. >> game consoles have been a very difficult business. we recommended electronic arts this week because they're doing something away from game consoles, they're doing a viral handheld business. we were worried game consoles cost too much for the american people. it's obvious. maybe it's another example of them buying them around here. how is that business on fire for you? >> well, again, the prices do keep coming down. in fact, you'll see lots of specials out there now and i think the costs are going to continue to go in the right direction. it's all a matter of driving the
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voluming, getting usage spread out so the more you do, the less it's going to cost. >> how did you know to buy back the bonds when things were bad and not be so scared like so many other ceos? >> well, we're really trying to accomplish many things as a company. but any time you can get your own bonds back at a discount, it's a pretty good use of cash. >> i'm using shorthand there. can you explain to our viewers the options that you have for your cash because you're brimming with cash and what you did creatively, because i don't think people understand. i love ceos who get it, who understand what -- how to use their cash. explain to people why you did what you did and how bountiful it was for your company. >> well, really it's been transforming our balance sheet. we started off with a lot of expensive debt as a leveraged buyout several years ago. we've been transforming that debt into low cost debt, and now taking it completely off the balance sheet. when we look at cash and generate good cash every quarter we look for the best opportunity for it. depending on the marketplace, it might be buying back debt or making acquisitions or doing a stock buyback.
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we've done all three of those things. >> you also bought a company called pulse core. what do they do. >> they're a specialist in reducing emi. they're electronic signals that cause interference. they even about got some great technology there and we think it would be a great complement with the rest of our portfolio. >> i've been asking ceos to come the on the show, whether business is good enough to hire and to also hire in this country. you've got a problem, i think, which is business looks really good, but this is not the country you should be hiring in, is is it? >> well, you know, we have about 13,000 employees around the world. there are about 2,000 of those in north america, and that's a good stable work force for us. lots of talent this, but expansion is on a global basis. thank you for making our viewers so much money. so much appreciated. >> thanks, jim. >> this company is doing everything right.
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obviously you heard, no, they can make that company good. that's going to happen beginning q 1, quarter one. i think buy, buy, buy irks even though it's up. great story on semiconductors. stay with cramer. okay, now here's our holiday gift list. aww, not the mall. well, i'll do the shopping... if you do the shipping. shipping's a hassle. i'll go to the mall.
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it is time for "the lightning round" on cramer's "mad money." you say the name and i tell you whether to buy, buy, buy, or sell, sell, sell. wher you hear this sound and then the "light think round" and
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the jaguar season may be over. are you ready, ski daddy. it's time for the "lightning round" on "mad money." let's start with mike in texas. >> caller: booyah, booyah, booyah, jim, from austin, texas. >> is it snowing there? >> caller: no, not quite. >> all right. coming here. what's up. >> caller: at what price should i sell my visa at? >> i don't know. i own it. this stock has been just a monster. and they all laughed at me kind of like, you know how carrie was laughed by travolta? fantastic situation. let's go to dave in california. dave. >> caller: hey, jimmy. here's a southern california blue skies 82 degrees booyah! >> here's a gray skies 30 -- 28 degrees garden state booyah. what's up? >> caller: all right. jimmy, i have somebody who's been on the wrong side more than once when i go after net gas
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pure place. so i've been searching and searching for a good high-yielding what i call chicken play an i think i found one that's a good connection to the marcellus shale. >> is it as good as lind? i like markwest. it's fully priced. but the yield seems safe to me but i'm going to bless it because i like dividends so much. i'm going to go to ralph in indiana. >> caller: booyah from notre dame. >> i'll give you ai fighting irish boo-yah. what's up? >> caller: hopefully we turn the corner with a new coach but what's going to happen with pfizer? with the changes in health care. >> i'm now a believer in pfizer.
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they've boosted their dividend. they're trying to get their act together. i've turned to pfizer. i'm recommend the stock and i wouldn't worry about health care because i think health care reform died when joe lieberman decided he didn't like it. let's go to tal in california. >> caller: big old booyah from the home of kobe bryant and the l.a. lakers. i wanted to know your short term and long term -- >> i'm with you. brian moynihan was my pick. i said he was going to get it. the moment ken lewis resigned i stood here and said brian moynihan is going to get it. he ought to polish up his speaking skills. just my own little advice. he doesn't have to take it because i'm not exactly an elocution expert. wells fargo doing great. once again citigroup, best in show on that offers but not anymore.
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let's go to louis in illinois. >> caller: jim, for a little diversity has anybody greeted you with booyah backwards which i think is hayoob. >> somebody gave me a hayoob the other day but i like your instinct and your spirit. what's up? >> caller: recently i read in the wall street journal. i wondering what you thought of that stock. it seemed to me that it could be a good growth stock. >> it is a good growth stock. i do like it. it's like all scripps have stalled. if we got full-scale health care reform, athena and all scrips has great growth. stick with it.
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can i go to david in texas? >> caller: booyah. this is david in fairland, texas. how are you doing today? >> i read a great book about a soldier who passed away in iraq in pearland but it's a great story. how can i help? >> caller: i've got a stock that has me drinking cheap scotch on myelin oil yum floor. it's a dpift. it's a gift sir. get up off the dirty linoleum floor. stop drinking the cheap stuff. it's -- i want you to buy more amazon and i want you to stick with cramer! >> you just play for a couple of seconds and let him. >> oh. >> you mean lie oh, oh. >> geez.
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i didn't know we were on. you know, my green's not working. what's supposed to blow up? >> what's wrong with this thing? >> i don't know. my green's not working. why is the green not working. hit. hit. hit. ♪ my baby don't care ♪ my baby don't care >> there you go. the google chart is a thing of beauty.
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i mean look at this, will you? i know pornography when i see it. i'm looking at hope. look at this, oh, geez. i mean this is like ted williams, batting 400 that year, you know. this is broken field. de-shaun jackson. kind of run. don't we have footage of any of those touchdowns? the 50-yard-plus touchdowns? we've got to wait. nfl doesn't allow us. believe me. you're going to see it. i'm making some calls. there. okay? >> let's go do some shopping. steve, what is this? this is our elevator direct to the 1002 shoe what is our shoe
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floor that is so big it has its own zip code. >> let's go look. ♪ >> this is a very hot trend, which was the over the calf boot, and, you know, these things were selling at -- this one is selling at $19.95. >> $19.95. >> which is one of our leading brands but i'll take you on down. there we go. >> i've got the zing look. neiman marcus. what am i going to do. >> here's a --
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>> that's a beautiful suit. >> $49.50. >> i'll take it right now. >> it's yours. >> no, not $4,000. $49.50. there's different customers. >> this is like, you know -- i want you to take me to the most expensive shoes. >> the most expensive shoes, oh, my goodness. >> look, jim. >> the shoes? >> i mean what the heck is with you today? >> you don't like my shoes? >> no, i don't like your shoes. we're going to brother jimmy's. we're not going to woolworth's. it's all right. it's all right. it's not a problem. i'm a little blinded by the shoe. >> the sweater, the argyle sweater. >> what's wrong with it? >> i mean it just -- frankly it's never going to be worn again on the set. >> i have to -- all right. ♪ drives every girl crazy about a sharp dressed man ♪ ns you help investors... you don't just sell them. it means no hidden agenda. td ameritrade always has...always will... put the investor-- you--first. that's how they work. that's how they deliver objective investing help. that's what td ameritrade stands for. what does your investment firm stand for? it's time for fresh thinking.
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it's time for td ameritrade. (announcer) here's hoping you find something special in your driveway this holiday. ho, ho, ho! (announcer) get an exceptional offer on the mercedes benz you've always wanted at the winter event going on now. but hurry - the offer ends january 4th.
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sprint. the now network. deaf, hard-of-hearing and people with speech disabilities access shepard yesterday, "mad money" wall of shamer, the guy i see as the disastrous ceo of regions financial decided to announce his retirement. i want to be statesman about this because i think he did the
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right thing. i'm not going to shame him for his catastrophic teen you're as the ceo. here's what was given to bloomberg about ritter's resignation. apparently the board has finally smelled the coffee and said enough. it wouldn't surprise me, the quote continued, but when there is to a postmortem that there was pressure on the board by the regulators to make a change, end quote. for a while, we were agnostic as to the existence of a board of directors of regents. if there was a board, how could they have let ritter destroy 86% of the value in a little more than three years? the stock opened at $37.66 on the first trading day with ritter at ceo. and yesterday it closed at $5.0. how could the board be okay with and the company rules allow him
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to use the company jet for a $17,000 family vacation down to greenbrier after taking $3.5 billion of t.a.r.p. money? how could they watch as regents missed their numbers over and over and over again. i think the late great john ritter could have done a better job than this guy, even after his untimely passing. thank you for retiring. now your company stock can finally start going higher again. open space. looks like it's a nice hall of shame. edens is the founder and invest
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investor of fortress investment group. lucky for you, i'm a jersey shore guy so i don't care about being blacklisted. memo to edens, i want you to take a cue from c. ritter and retire so you can spend more time having fabulous beach parties instead of wrecking our own shareholder value. "mad money" is back after the break.
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weir letting you be greedy for two weeks because of restraint and defense. i always say there's a bull market somewhere. i promise to try to find it just for you. i'm jim cramer and i will see you on monday! so, i'm in love with this cute pair of jeans, only $100. but am i wearing them now? hello. i'm wearing my older sister's jeans that she ruined with bbq sauce... or so i thought. see, my mom washed them with this tide stain release in-wash booster stuff. she's all, "you use it with your detergent to help get stains out the first time." are you kidding me? so now the stains are magically gone. and my sister passes on her jeans to me. what a life. [ female announcer ] tide stain release. stains out. no doubt.
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you want to watch hoops on the bus,
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cartoons during your big meeting, and breaking news when it breaks. watch real tv whenever you want. you don't need to get a phone. you need a phone that gets you. t. oh please. you got the presentation? oh yeah right here. let me stow that for you, sir. thank you. you know, just to be safe i used fedex office print online. oh you did? yeah -- they printed and bound 20 copies of the presentation, shipped it to portland, they're gonna be there waiting for us. that's a good idea. yeah. you have a nice flight. thank you. (announcer) print upload your document -- we'll take care of the rest.
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melissa francis: beyond the las vegas strip... there's the thriving underworld of illegal gambling. vegas runner: everybody's doing it. no one wants to talk about it, let's regulate it. >> but in this underground economy... fortunes are on the line... sheriff tom dart: the gambling world is set up for suckers to lose. >> and lives hang in the balance... t. markus funk: all of these crimes that are used to intimidate people, to bring them into line, to punish them occur as a result of attempts to try to keep the money flowing. >> away from the bright lights
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and excitement of casinos... in backrooms and dark alleys... there's the world of illegal gambling... it is a multi-billion dollar business... and millions of americans are in on the action. welcome to "cnbc investigates: "the big business "of illegal gambling." i'm melissa francis. illegal gambling may conjure images of mobsters, bookies, and threats of violence... but while that underground world still exists... technology has made illegal gambling much more accessible... the same computer you use for work or to connect with friends can be used to wager outside the law. in this hour, you'll see how this high stakes business can bring wealth... but also prison... and even death. october 26, 2005... the chicago white sox win the world series, four games to none... fans cheer the white sox first championship since the infamous "black sox" cheating scandal... this man couldn't be happier, but he's not a


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